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Which of the following correctly characterizes the shape of a production-possibilities curve?
A) A straight line indicating the law of increasing opportunity costs applies
B) A straight line when there is constant opportunity costs
C) A line that curves outward when resources are perfectly adaptable in the production of different goods
D) A line that curves inward when resources are perfectly adaptable in the production of different goods
The presumption of efficiency for capitalism is based on the model of perfect competition. Explain the assumptions underlying the model of perfect competition. Provide an example showing how the US economy diverges from each of these assumptions.
Perform a Google search to find what externalities these proponents claim. Do you believe that these externalities claimed are truly externalities and justify government subsidies of home ownership.
After Apple introduced its new iPhone, the price of standard cell phones rose. A consumer advocacy group that has long claimed that standard cell phone producers are colluding like a monopolist asserts that this is further evidence
A firm that sells e-books – books in digital form downloadable from the Internet – sells all e-books relating to do-it-yourself topics home plumbing, gardening, and so on at the same price.
Compute the profit at the end of each year if the hospital continues to use the traditional method for surgical operations and compute the profit at the end of each year if the hospital uses a Robotic Surgery Machine for surgical operations.
Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses
Which of the following appears as a positive item on the balance of payments account for the United States? If the United States wants to regain ownership of domestic assets sold to foreigners, it will have to increase domestic consumption.
An employee receives a letter of reprimand that goes in his personnel file but is not demoted and not suffer any other action. Does the letter constitute an adverse employment action Why or Why not
What are the advantages and disadvantages of preventing the federal budget from ever being in deficit. Explain why the high employment deficit or surplus might differ from the actual budget deficit or surplus.
Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy; and a summary of the subjects that will be covered in the plan.
Determine which country has absolute advantage in production of tanks and explain why is it this country?
Based on their public statements, many policy makers would support government regulation of oil markets in order to compensate for the exhaustibility of oil as a resource. Is this reasonable from an economic stand point.
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